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The Medical Device Market: Czech Republic
Espicom Business Intelligence Ltd, Oct 2011, Pages: 66
The Czech Republic was one of the larger and richer former Soviet countries to join the EU in May 2004. Its regulation and trade rules are now generally aligned to EU standards. It is well-located in central Europe and has an estimated population of 10.5 million in 2011.
Healthcare funding is largely public, and mainly through health insurance. Private spending only accounts for an estimated 12.1% of total health expenditure in 2011. Provision of care is also largely public; the Czech Republic has yet to develop a substantial private sector.
Responsibility for hospitals was devolved to local governments in 2003. This has shifted the burden of hospital debt to local authorities. Some are planning privatisations, although this is politically controversial and likely to be stopped by the national government.
The country has a small but skilled manufacturing sector. Production is at the low to medium end of the technology scale, but is increasingly of good quality. EU membership has made the CE mark mandatory for local manufacturers. Local producers tend to concentrate on export markets: an estimated 75% of production is exported.
Around 80% of the medical device market is supplied by imports, which have risen rapidly in the past decade. In 2009, around 23.0% were sourced from Germany. Other major suppliers were the USA, Switzerland, Italy, the Netherlands and Japan.
In 2011, the Czech market for medical equipment and supplies is estimated at US$1,454 million, or US$139 per capita. The market has proved generally resilient to the economic downturn in 2009, and it is expected that the device market will continue to expand at a CAGR of 4.3% per annum, reaching US$1,798 million, or US$173 per capita, by 2016.
Includes 3 quarterly updated outlook reports!
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